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Electronic Payment for Cash Transfer Programmes

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Electronic Payment for Cash Transfer Programmes Briefing no. 8 Electronic payment for Contents cash transfer programmes: 1 Introduction 1 What is an e-payment Cutting costs and corruption or an idea ahead system, and how does of its time? it work? 3 Where are e-payments Introduction being used? There is growing interest in the use of electronic payment (e-payment) systems in cash transfer programmes. When cash is transferred to 4 Advantages and beneficiaries through e-payment technologies such as mobile phone disadvantages of accounts or smartcards, there is potential to cut costs and reduce e-payments compared corruption compared with physical payment methods. E-payment systems with physical payment can also improve accessibility and security for programme recipients, systems which is important for reaching vulnerable groups including older people, 7 Is recipients’ age, illness people with disabilities and people in remote areas. But the lack of or illiteracy a barrier to regulatory and financial infrastructure in low income countries means that using e-payments? e-payment systems need substantial up-front investment. In addition, the 7 Are e-payments suitable bewildering array of e-technology platforms and providers makes it difficult for emergency response? for policy makers to determine whether e-payment is the most cost-effective option. This paper discusses the issues involved and the advantages and 8 Conclusion disadvantages of e-payment systems compared with physical payment systems. This paper draws heavily on an expert learning event on e-payment systems organised by HelpAge International for UK Aid in 2012.1 What is an e-payment system, and how does it work? In traditional cash transfer programmes, cash is physically delivered to a set of paypoints – often post offices or government offices. Programme recipients travel to these paypoints to collect cash payments at a set time. Physically delivering cash incurs high transport costs and security risks for the programme provider. In addition, these paypoints are often infrequent, especially in rural or remote areas, so recipients often have to travel long distances to get to the paypoints. This can also involve costs that eat into the value of the cash transfer if recipients have to pay for transport or spend hours travelling and queuing to collect the cash. This has proven to be a considerable barrier for the most vulnerable recipients, especially older people, people with disabilities, or those who are unable to travel due to ill-health. In e-payment systems, cash is transferred electronically to a bank which uses (or sets up) a network of paypoints to pay cash to recipients on request (see Figure 1). Paypoints can be bank branches, ATMs2 and/or a network of branchless bank ‘agents’ – usually local shopkeepers. Bank agents use cash flow from their own business activities to pay recipients and are reimbursed by the bank, along with a small commission which is credited to their account. The agents use a mobile phone or point of sale (POS) device to process the payment, which is linked to the bank via a mobile phone network.3 The POS provides an electronic record of the transaction and produces a paper receipt for the beneficiary and the agent. POS devices can include biometric identification technology – typically a thumb- print recognition device. Programme recipients are issued with a smartcard or magnetic stripe (magstripe) card,4 a personal identification number (PIN) or mobile phone-operated ‘account’,5 which they present at any network agent for payment. A recent HelpAge film (see www.pension-watch.net/pensions/about-social- pensions/about-social-pensions/film-social-protection-for-older-people-in-africa/) shows how social pensions are being paid to older people through networks of local shops in remote rural areas of northern Kenya. 1. The use of new technologies in cash payment is a rapidly evolving area; this paper captures issues relevant and current in 2012. It is based on a learning event for UK AID, January 26 2012 with expert speakers including Prateek Shrivastava of Monitise plc; Caroline Pulver of Bankable Frontiers Associates; and Chris Bold, UKAID, formerly advisor to CGAP on technology and cash transfers. 2. Automatic Teller Machines 3. POS devices can operate offline; the agent only needs to connect to the cellular network intermittently. POSs can be charged with a solar panel, useful in remote areas without good power connections. 4. A smartcard is a plastic card about the size Planning Development of Pungky Sumadi, National Presentation Source: 2009 26 July EPRI, Cape Town, Course, Social Transfer Indonesia at Agency, of a credit card, with an embedded microchip that can be loaded with data, used for telephone calling, electronic cash payments, and other applications, and then periodically For older people, e-payment refreshed for additional use. A smartcard contains more information than a magnetic can mean the difference stripe card and it can be programmed for different applications. Some cards can contain programming and data to support multiple between travelling miles on applications and some can be updated to add new applications after they are issued. foot to queue at dawn for cash Smartcards can be designed to be inserted into a slot and read by a special reader or to be read at a distance, such as at a toll booth. payment, or withdrawing the See http://searchsecurity.techtarget.com/ definition/smart-card money at their convenience A magnetic stripe card is a type of card capable of storing data by modifying the magnetism of tiny iron-based magnetic from the local shop. particles on a band of magnetic material on the card. The magnetic stripe, sometimes Source: adapted from Bold and Rotman (2010) called swipe card or magstripe, is read by physical contact and swiping past a magnetic reading head 5. The recipient has an electronic ‘store of value’ into which payments are made. This can be a simple current or savings account, which government mandates the financial institution to offer. 2 Electronic payment for cash transfer programmes www.pension-watch.net Figure 1: Physical and e-payment systems Physical payment system E-payment system Cash transfer programme provider Cash transfer programme provider Post Office Bank Agent Agent Agent ATM Post Office branch Post Office branch Recipient Recipient Recipient Recipient Recipient Recipient Recipient Recipient (payments delivered by Post Office) (payments collected from agents) Source: adapted from Bold and Rotman (2010) Where are e-payments being used? Almost half of the 40-plus cash transfer programmes set up since 1999 involve e-payment systems, including those in China, Bangladesh, Cambodia, Kenya, Pakistan, India, Peru and Yemen.6 Some of the largest cash transfer programmes using e-payment systems include the following: • Pakistan’s 2009 flood response delivered 1 million prepaid smartcards to recipients within 70 days using a network of 12,000 branchless bank agents. • Mexico’s Oportunidades conditional cash transfer (CCT) programme, reaches 6 million households using payment mechanisms including magstripe cards linked to accounts and smartcards. • South Africa’s Social Security Agency (SASSA) pays the Older Person’s Grant and other cash transfers to 9 million recipients using prepaid smartcards and magstripe cards linked to a bank account. Colombia’s Familias en Acción cash transfer reaches 1.8 million recipients via 6. Bold, C. and Rotman, S, ‘Financially • inclusive payment mechanisms for social cash savings accounts that pay interest. transfer programmes’ presentation for CGAP 2010; Pickens M, Porteous D, and Rotman S, • 2 million of Brazil’s Bolsa Familia recipients receive cash payments into basic Banking the poor via G2P payments, CGAP Focus note No. 58, December 2009 current accounts accessible via magstripe card in the public Caixa Economica 7. Presentation by Abrar Mir, United Bank bank. Limited Pakistan, at DFID, London, 26 January 2012; Bold and Rotman (2010); and • In India, 4 million recipients of benefits under the National Rural Employment Pickens M, Porteous D, and Rotman S, Banking the poor via G2P payments, CGAP Guarantee Act (NREGA) have chosen branchless banking over physical payment Focus note No. 58, December 2009. mechanisms.7 3 Electronic payment for cash transfer programmes www.pension-watch.net Advantages and disadvantages of e-payments compared with physical payment systems The advantages and disadvantages depend on the specific country context. E-payments have the potential to reduce transaction and security costs for governments and recipients alike, with faster payments and less leakage than physical cash payment systems. However, substantial barriers to uptake of e-payment systems remain. There is little rigorous data and few evaluations comparing costs and benefits of e-payments and physical payment systems or for different types of e-payment technology. For example, there are no national-scale cash transfer programmes that deliver payments using mobile phone technology.8 Figure 2 makes comparisons based on available data, showing some clear benefits of e-payment systems in terms of reduced costs and leakage. Figure 2: Comparing costs and performance of e-payment and physical payment systems Physical cash Technology enhanced Country payment (electronic) cash payment Time taken by beneficiary 2-4 hours 0.5 hours (29% of recipients lose to collect (hours) income) South Africa, India Cost per payment cycle 2-15%/US$1-4 2-10%/US$1-2 South Africa, India, (%/US$) Colombia, Democratic Republic of Congo, Malawi Leakage (%) 4-15% 1-4% South Africa (8% paid to get grant), India Time to implement 3-12 months 6 months + Various (months) Additional financial None Yes: savings, credit, services insurance Additional developmental None Yes impact Source: adapted from Pickens et al, 2009 High set-up costs Making cost comparisons between payment systems is difficult because of different grant sizes, varying frequency of payments, fluctuating currency values, and other country-specific factors.9 Major costs in physical payment systems include fuel and recruitment of security personnel to deliver cash.
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